Q4 25 EPS
$1.05
BEAT +8.70%
Est. $0.97
Q4 25 Revenue
$2.17B
BEAT +2.01%
Est. $2.13B
vs S&P Since Q4 25
+3.4%
BEATING MARKET
HWM +11.0% vs S&P +7.6%
Full Year 2025 Results
FY 25 EPS
$3.77
BEAT +2.14%
Est. $3.69
FY 25 Revenue
$8.25B
BEAT +0.55%
Est. $8.21B
Market Reaction
Did HWM Beat Earnings? Q4 2025 Results
Howmet Aerospace capped a record year with a standout fourth quarter, posting adjusted EPS of $1.05 against a consensus estimate of $0.95, a beat of 10.65%, while revenue of $2.17 billion topped the $2.12 billion estimate by 2.13% and climbed 14.7% y… Read more Howmet Aerospace capped a record year with a standout fourth quarter, posting adjusted EPS of $1.05 against a consensus estimate of $0.95, a beat of 10.65%, while revenue of $2.17 billion topped the $2.12 billion estimate by 2.13% and climbed 14.7% year over year. The primary engine behind those results was broad-based aerospace demand, with Engine Products leading the way at 20% revenue growth in the quarter and gas turbines surging 32%, a trajectory management says is entering its largest expansion phase in years as data center electricity needs accelerate power generation investment. Adjusted EBITDA margin expanded roughly 330 basis points to 30.1%, underscoring the operating leverage embedded in Howmet's model even as the company absorbed approximately $54 million in net special charges tied largely to a UK pension settlement. The company's pending $1.80 billion acquisition of Consolidated Aerospace Manufacturing adds further strategic weight to its fastener portfolio. For full-year 2026, Howmet guides baseline revenue of $9.10 billion and adjusted EPS of $4.45, with free cash flow targeted at $1.60 billion.
Key Takeaways
- • Commercial aerospace market growth of 13% in Q4, including engine spares growth
- • Defense aerospace market growth of 20% in Q4
- • Gas turbines market growth of 32% in Q4, driven by electricity generation demand especially from data centers
- • Adjusted EBITDA margin expansion of approximately 330 basis points year over year to 30.1% in Q4
- • Productivity gains across segments
- • Cost reductions in Forged Wheels offsetting lower commercial transportation volumes
HWM YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
HWM Revenue by Segment
With YoY comparisons, source: SEC Filings
“The Howmet team delivered an exceptional quarter to cap a strong 2025. Revenue growth accelerated in the fourth quarter 2025 to 15% year over year, reflecting healthy growth in the commercial aerospace, defense aerospace, and gas turbines markets. Adjusted EBITDA grew 29% year over year to $653 million and Adjusted EBITDA Margin increased approximately 330 basis points to 30.1%, both records. Adjusted Earnings per Share grew 42% to a record $1.05. Free Cash Flow for full year 2025 was $1.43 billion and 93% conversion of Net Income after record capital expenditures of $453 million as Howmet continued to invest for growth.”
— John Plant, Q4 2025 Earnings Press Release
HWM Earnings Trends
HWM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HWM EPS Trend
Earnings per share: estimate vs actual
HWM Revenue Trend
Quarterly revenue: estimate vs actual
HWM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.11 | $1.22 | +10.28% | $2.31B | +3.18% |
| Q4 25 BEAT FY | $0.97 | $1.05 | +8.70% | $2.17B | +2.01% |
| FY Full Year | $3.69 | $3.77 | +2.14% | $8.25B | +0.55% |
| Q3 25 BEAT | $0.91 | $0.95 | +4.48% | $2.09B | +2.15% |
| Q2 25 BEAT | $0.87 | $0.91 | +4.21% | $2.05B | +2.28% |
| Q1 25 BEAT | $0.78 | $0.86 | +10.70% | $1.94B | +0.00% |